lue chips take a breather, Narra hits limit-up again

by **Cals** Fri 13 Sep 2013, 10:03

Published: Friday September 13, 2013 MYT 9:12:00 AM
Updated: Friday September 13, 2013 MYT 9:14:07 AM
Blue chips take a breather, Narra hits limit-up again
BY JOSEPH CHIN
KUALA LUMPUR: Malaysia’s key FBM KLCI fell in early Friday trade as investors decided to take profit after four straight days of gains while Narra Industries hit limit-up.
At 9.02am, the KLCI was down 3.65 points to 1,768.75. Turnover was 46.04 million shares valued at RM19.97mil. There were 72 gainers, 56 losers and 95 counters unchanged.
Reuters reported Asian shares slipped on Friday and the dollar held to overnight losses against the yen as investors fretted not whether but by how much the U.S. Federal Reserve will cut its monthly stimulus at next week's monetary meeting.
The Fed is expected to reduce its US$85 billion a month bond-buying programme at its two-day policy meeting ending on Sept 18. But recent weaker-than-expected data, including jobs growth in August and consumer spending and durable goods orders in July, intensifies uncertainty about the extent of reduction.
At Bursa Malaysia, Petronas Gas fell 34 sen to RM20.90 while MISC shed nine sen to RM5.05 and Tenaga slipped seven sen to RM8.94. Genting Malaysia lost six sen to RM4.34.
United Plantations fell the most, down 50 sen to RM26.50 while KL Kepong shed 10 sen to RM22 and FGV eight sen to RM4.21 after Dorab Mistry, director at Godrej International, said palm oil may extend its decline.
Narra Industries jumped 30 sen to RM1.30, the second time to hit limit-up after it resumed trading on Thursday. However, Hong Leong Industries lost 10 sen to RM5.60, giving back part of its gains of 30 sen from Thursday.
AmBank rose nine sen to RM7.66 and Hong Leong Bank eight sen higher at RM14.16.